News

TOKYO: Shares of Toyota Industries are poised for a significant surge following news that Toyota Motor Corporation is considering a buyout of its key parts supplier. The stock, which opened Monday with a glut of buy orders, is on track to hit the daily upper price limit of 16,225 yen, marking a 23% increase from the previous session’s closing price of 13,225 yen. This sharp rise, which would be the biggest one-day jump for Toyota Industries in over 40 years, comes after Toyota’s announcement over the weekend. In a filing with the Tokyo Stock Exchange, the automaker confirmed it was exploring various options, including a partial investment in Toyota Industries. Toyota’s bold move has stirred significant interest. Bloomberg News reported Friday that Akio Toyoda, Chairman of Toyota, along with the founding family, have proposed a potential 6 trillion yen ($42 billion) deal to acquire Toyota Industries. However, while this proposal has raised expectations, Toyota Industries clarified in a statement that it had not received any official buyout offer from Toyota or its chairman. It did confirm, though, that it had received proposals about going private via a special purpose company. The market response reflects investor optimism about the potential deal and the implications it could have for both companies, potentially reshaping the future of the automotive parts supply sector.

KUALA LUMPUR: Bursa Malaysia Berhad (“Bursa Malaysia” or “the Exchange”), in collaboration with the Securities Commission Malaysia (“SC”), has swiftly contained and quantified the recent incidents of unauthorised access and trading activities reported on 24 April 2025. The breaches, which were isolated to online client accounts at a handful of brokers, have been thoroughly identified. Immediate measures have been taken to prevent further occurrences, with the Exchange working closely alongside the affected parties to resolve the situation in a fair, transparent manner. To safeguard investors, Bursa Malaysia has issued a directive requiring the relevant brokers to retain affected securities and proceeds for 14 days—or longer if necessary—to facilitate ongoing investigations. Discussions with the brokers are already underway to determine a fair resolution for the impacted trades. Notably, the unauthorised activities were confined to trades involving Bina Puri Holdings Bhd and Bina Puri’s Warrant-B last Thursday afternoon. No other incidents have been reported since. As a preventive measure, all brokers have been instructed to further strengthen their internal controls and cybersecurity frameworks. A comprehensive forensic audit has also been commissioned to uncover the root cause of the breach and ensure accountability. Bursa Malaysia emphasised that its trading and clearing systems remain robust, secure, and fully operational, ensuring continued market confidence and accessibility for all participants.

KUCHING: As Sarawak advances toward its vision of becoming a high-income, innovation-led economy by 2030, financial institutions must play a more proactive role beyond simply managing capital, said State Deputy Premier Datuk Amar Douglas Uggah Embas. Speaking at the opening of Affin Bank’s new Icom Square branch today, Uggah emphasised that financial institutions must unlock economic transformation with intelligence, equity, and a clear commitment to sustainable development. “A robust financial system is essential for a thriving economy. Affin Bank, through its integrated structure combining Affin Bank, Affin Islamic, and Affin Hwang Investment Bank, provides a seamless platform for individuals, businesses, and investors alike,” he said. He commended Affin’s support for small and medium enterprises (SMEs), green financing, and digital solutions tailored to Sarawak’s unique regional needs, noting the institution’s critical role as a capital partner in backing catalytic infrastructure projects that will power Sarawak’s next phase of growth. Uggah, who is also Sarawak’s Second Minister of Finance and New Economy and Minister for Infrastructure and Port Development, stressed that SMEs are not merely contributors to GDP but the “economic heartbeat” that creates jobs, drives innovation, and fuels inclusive growth. “To unlock their full potential, we must create an environment where local enterprises can thrive—through better access to financing, business support services, and digital capabilities,” he said. Uggah highlighted Affin’s efforts in facilitating access to working capital, trade finance, and operational digitalisation as examples of how financial institutions can empower local entrepreneurs to scale and lead. “The strength of a region is reflected not only in the amount of domestic and foreign direct investment it attracts but also in how well it enables homegrown businesses to thrive,” he added. He also called on financial institutions to be responsive, locally attuned, and digitally enabled, stressing the need for forward-looking approaches that accelerate long-term socio-economic growth. “Financial institutions must provide not only broader access to capital and advisory services but also embrace strategies that drive sustainable and inclusive economic development,” Uggah concluded. — BERNAMA

The Regional Comprehensive Economic Partnership (RCEP) must remain steadfast in upholding multilateralism and counter rising challenges such as trade protectionism and reciprocal tariffs announced by the United States, said China Institute for Reform and Development (CIRD) president Chi Fulin. In an article published in China Daily recently, Chi stressed the importance of maintaining multilateralism through RCEP, especially amid increasing global trade tensions. “RCEP is a very dynamic free trade area. As the world’s largest free trade agreement (FTA), it accounts for one-third of global economic output, trade value, population, and foreign investment,” he said. According to Chi, from 2010 to 2023, member economies recorded an average annual GDP growth of 4.5%, which was 1.7 percentage points higher than the global average. He noted that ASEAN nations, a key driver within the agreement, saw their total trade-to-GDP ratio rise from 84% to 93% between 2016 and 2023. “This demonstrates that maintaining a stable free trade order is decisive for the growth of ASEAN and RCEP economies,” Chi remarked. The RCEP, signed in November 2020, brings together the 10 ASEAN countries — Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam — along with five key trading partners: Australia, China, Japan, South Korea, and New Zealand. The agreement officially came into force for Malaysia on 18 March 2022. Chi highlighted that the RCEP is projected to contribute an additional 4.47 percentage points to ASEAN’s GDP growth by 2035. He also stressed the need to enhance economic and trade cooperation with the Shanghai Cooperation Organisation to further strengthen regional economic integration. “Regional economies should work together to build RCEP into a higher-level partnership,” he said. Chi further noted that China, Japan, and South Korea — which account for over 80% of RCEP’s total economic output — must deepen trilateral cooperation, especially in the services sector, to unlock up to US$1.4 trillion in new market opportunities. He advocated for accelerating the transition from country-specific to unified tariff concessions and shifting from ‘partial cumulation’ to ‘full cumulation’ of rules of origin to facilitate more integrated regional supply chains. Additionally, Chi called for greater institutional strengthening within RCEP, including the establishment of a permanent secretariat and a dedicated dispute settlement committee to ensure smoother operations and dispute resolutions. — BERNAMA

KUALA LUMPUR:  Malaysia has proposed the establishment of an ASEAN Halal Council to strengthen regional strategic cooperation, facilitate halal product movement across borders, and boost intra-ASEAN trade, which has yet to reach its full potential. Halal Development Corporation (HDC) chairman Khairul Azwan Harun said the proposal was made during the Malaysia-Indonesia halal industry roundtable session in Jakarta on 22 April, attended by Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi and Indonesia’s Halal Product Assurance Organising Agency (BPJPH) head Ahmad Haikal Hassan. “This ASEAN Halal Council will serve as a platform to streamline trade, expand markets, and harmonise halal logo use, tapping into a regional market of nearly 700 million people,” Azwan told Bernama. During the session, both countries also proposed the mutual recognition of halal certificates issued by Malaysia and Indonesia, eliminating the need for additional procedures or inspections. Azwan said the initiative would save costs, reduce processing times, and significantly boost bilateral trade, particularly for micro, small, and medium enterprises (MSMEs) targeting a combined Muslim population of over 240 million. “Malaysian halal-certified products regulated by the Department of Islamic Development Malaysia (JAKIM) could enter the Indonesian market directly, and vice versa. This is a game changer that will immediately raise our halal product export value,” he said. Malaysia and Indonesia have also pledged to lead efforts to strengthen intra-ASEAN halal trade, tapping into the regional halal market, currently valued at US$1.3 trillion (US$1 = RM4.38). Azwan emphasised that these initiatives are aligned with Malaysia’s Halal Diplomacy framework, designed to sustain the country’s global leadership in the halal sector. The proposals are expected to be refined at the Halal Industry Development Council (MPIH) meeting on 29 May, chaired by Ahmad Zahid, before being presented to the ASEAN Secretariat. Advancing Halal Diplomacy and Digital Transformation Highlighting the broader Halal Diplomacy strategy, Azwan said Malaysia is actively sharing its halal ecosystem expertise with friendly nations, especially within ASEAN, and extending influence into non-traditional markets such as North Africa, Central Asia, and West Asia. “We cannot move alone. Malaysia and Indonesia must collaborate as a unified ASEAN halal entity to meet the global halal market demand, as producing countries can currently fulfil only 20% of the global halal requirements,” he said. In partnership with the Ministry of Investment, Trade, and Industry (MITI) and the Malaysia External Trade Development Corporation (MATRADE), HDC is also intensifying business matching efforts for Malaysian and Indonesian halal players, including in logistics, pharmaceuticals, and halal park development. Under the Halal Industry Master Plan (HIMP) 2030, Malaysia aims to achieve halal export values exceeding RM260 billion by focusing on six sectors: food and beverages, ingredients, logistics, cosmetics and nutraceuticals, medical devices, and pharmaceuticals. Azwan also urged the halal industry to accelerate digital transformation, particularly in certification and standards, leveraging emerging technologies such as blockchain, artificial intelligence (AI), and the Internet of Things (IoT). “Digital transformation will not only accelerate certification processes but also boost consumer confidence and enhance halal compliance monitoring across the supply chain. Malaysia must remain competitive as a global halal benchmark in the digital era,” he said. He stressed that strong collaboration among government agencies, industry players, and STI (science, technology, and innovation) researchers is critical to creating a sustainable and competitive digital halal ecosystem. — BERNAMA

NEWCASTLE: Tenaga Nasional Bhd (TNB) has demonstrated its ability to continuously strengthen its overseas energy capabilities and investments, said Deputy Prime Minister Datuk Seri Fadillah Yusof. Speaking during a visit to the Blyth Offshore Wind Farm in Newcastle, United Kingdom (UK), Fadillah, who is also the Minister of Energy Transition and Water Transformation, praised TNB’s international expansion efforts through its investment arm, Vantage RE Ltd. “Congratulations to TNB for exploring and expanding their reach internationally, especially in the UK, including Ireland, Scotland, and beyond. This shows the capability of Malaysian companies, which not only benefits TNB itself but also our country in terms of foreign investment,” he said. TNB, via Vantage RE, holds a 49% stake in Blyth Offshore Demonstrator Ltd (BODL), the owner of the 41.5-megawatt (MW) offshore wind farm located approximately 6.5 kilometres off the Newcastle coastline. Operational since 2017, the Blyth project marks a significant step in TNB’s renewable energy ambitions abroad. Also present during the visit were TNB’s Chief New Energy Officer Mohd Zarihi Mohd Hashim and Sarawak Energy Bhd’s Group Chief Executive Officer Datuk Sharbini Suhaili. Fadillah encouraged more large Malaysian companies, particularly government-linked companies (GLCs) and government-linked investment companies (GLICs), to explore investment opportunities abroad, highlighting the benefits for both corporate growth and national economic interests. Beyond its stake in BODL, Vantage RE manages a renewable energy asset portfolio of 1.3 gigawatts across the UK and Ireland. Recently, the company completed the construction of a 100 MW solar farm in the UK, which will soon be equipped with a battery energy storage system—further strengthening TNB’s leadership in renewable energy. Commenting on Malaysia’s participation in the two-day Summit on the Future of Energy Security held at Lancaster House in London, Fadillah said it provided valuable opportunities for Malaysia to engage with the latest energy technologies and foster international collaboration. “This is the best opportunity for our country not only to learn but also to expand and share experiences with other nations. It allows our companies to broaden their horizons,” he said, adding that the summit also reinforced Malaysia’s commitment to environmental stewardship and technological cooperation. Organised by the International Energy Agency and the UK government, the summit gathered global decision-makers to chart the path toward future energy security. — BERNAMA

KUALA LUMPUR: Bursa Malaysia Securities Berhad has publicly reprimanded Reach Energy Berhad (REACH) and seven of its directors for breaches of the Main Market Listing Requirements (Main LR). Additionally, six directors were each fined RM50,000. REACH was found to have breached paragraph 8.04(3)(b) of the Main LR, read together with paragraph 4.1(a) of Practice Note 17 (PN17), for failing to immediately announce its PN17 status upon releasing its fourth-quarter financial results for the period ended Dec 31, 2022. The company had triggered PN17 criteria as its shareholders’ equity on a consolidated basis stood at RM111.29 million, or 22.8% of its share capital of RM488.98 million, based on the 2022 fourth-quarter results. Furthermore, its external auditors had highlighted a material uncertainty related to going concern (MUGC) in the company’s 2021 audited financial statements. Despite these red flags, REACH only made its PN17 announcement on April 3, 2023 — more than a month after it should have done so. Penalties on DirectorsSeven directors were found to have breached paragraph 16.13(b) of the Main LR for allowing REACH to commit the breach. The penalties imposed are: No. Name Designation Penalty 1 Y.M. Tunku Datuk Nooruddin Bin Tunku Dato’ Sri Shahabuddin Executive Director (resigned 29 Mar 2023) Public reprimand and RM50,000 fine 2 Tan Sri Dr. Azmil Khalili Bin Dato’ Khalid Non-Independent Non-Executive Chairman Public reprimand and RM50,000 fine 3 Yusoff Bin Hassan Independent Non-Executive Director Public reprimand and RM50,000 fine 4 Nik Din Bin Nik Sulaiman Independent Non-Executive Director, Audit Committee Chairman (resigned 29 Mar 2023) Public reprimand and RM50,000 fine 5 Dato’ Jasmy Bin Ismail Independent Non-Executive Director, Audit Committee Member (resigned 29 Mar 2023) Public reprimand and RM50,000 fine 6 Datin Noor Lily Zuriati Binti Abdullah Independent Non-Executive Director (resigned 29 Mar 2023) Public reprimand and RM50,000 fine 7 Izlan Bin Izhab Senior Independent Non-Executive Director (resigned 29 Mar 2023) Public reprimand only No fine was imposed on Izlan Bin Izhab due to personal extenuating circumstances. Bursa Malaysia Securities emphasised that the delay in announcing REACH’s PN17 status deprived shareholders and investors of crucial information regarding the company’s financial condition, including the risks of suspension and delisting if the company failed to regularise its financial situation. BackgroundREACH triggered the PN17 criteria following the release of its fourth-quarter 2022 results on Feb 28, 2023. However, it only made the First Announcement on April 3, 2023, following engagement from Bursa Malaysia Securities on March 31, 2023. Bursa noted that there was no reasonable explanation for the delay and stressed that the board, particularly its non-executive directors, had failed to exercise sufficient oversight despite financial red flags — including staggering losses of RM227.65 million recorded in the fourth quarter of 2022 and a significant reduction in shareholders’ equity. The regulator reminded REACH and its board of directors of their responsibilities to uphold corporate governance standards and ensure timely disclosure to safeguard the interests of shareholders and the investing public.